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Receivables Transfer Agreement

 

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Title:

Receivables Transfer Agreement

Entities:

Bank One, NA; Interface Inc; Interface, Inc.

Date:

2001

Size:

Preview shows 6KB of 115KB total

Price:

$45

ID:

#1607318

 

 

► Miscellany ► Transfer ► Receivables Transfer Agreements
► Financial
► Consumer ► Textiles - Non Apparel

 

 

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                         RECEIVABLES TRANSFER AGREEMENT



DATED AS OF DECEMBER 19, 2000

AMONG


BENTLEY MILLS, INC., as an Original Seller,
CHATHAM MARKETING CO., as an Original Seller
GUILFORD OF MAINE MARKETING CO., as an Original Seller,
INTEK MARKETING CO., as an Original Seller,
INTERFACE ARCHITECTURAL RESOURCES, INC., as an Original Seller,
INTERFACE FLOORING SYSTEMS, INC., as an Original Seller,
PANDEL, INC., as an Original Seller,
PRINCE STREET TECHNOLOGIES, LTD., as an Original Seller,
TOLTEC FABRICS, INC., as an Original Seller,

AND

INTERFACE, INC.,
as Originator






TABLE OF CONTENTS



Page



ARTICLE I
AMOUNTS AND TERMS OF THE PURCHASE......................................................-2-
Section 1.1 Purchase of Receivables...............................-2-
Section 1.2 Payment for the Purchase..............................-3-
Section 1.3 Purchase Price Credit Adjustments.....................-4-
Section 1.4 Payments and Computations, Etc........................-5-
Section 1.5 Transfer of Records...................................-5-
Section 1.6 Characterization......................................-6-


ARTICLE II
REPRESENTATIONS AND WARRANTIES..........................................................-6-
Section 2.1 Representations and Warranties
of Original Sellers...................................-6-


ARTICLE III
CONDITIONS OF PURCHASE................................................................-11-
Section 3.1 Conditions Precedent to Purchase.....................-11-
Section 3.2 Conditions Precedent to Subsequent Payments..........-11-


ARTICLE IV
COVENANTS.............................................................................-11-
Section 4.1 Affirmative Covenants of Original Seller.............-11-
Section 4.2 Negative Covenants of Original Sellers...............-16-


ARTICLE V
TERMINATION EVENTS....................................................................-17-
Section 5.1 Termination Events...................................-17-
Section 5.2 Remedies.............................................-19-


ARTICLE VI
INDEMNIFICATION......................................................................-20-
Section 6.1 Indemnities by Original Seller.......................-20-

-i-


Section 6.2 Other Costs and Expenses.............................-22-


ARTICLE VII
MISCELLANEOUS........................................................................-23-
Section 7.1 Waivers and Amendments...............................-23-
Section 7.2 Notices..............................................-23-
Section 7.3 Protection of Ownership Interests of Originator......-23-
Section 7.4 Confidentiality......................................-24-
Section 7.5 Bankruptcy Petition..................................-26-
Section 7.7 CHOICE OF LAW........................................-26-
Section 7.8 CONSENT TO JURISDICTION..............................-26-
Section 7.9 WAIVER OF JURY TRIAL.................................-27-
Section 7.10 Integration; Binding Effect;
Survival of Terms....................................-27-
Section 7.11 Counterparts; Severability;
Section References...................................-28-


-ii-





Exhibits and Schedules

Exhibit I - Definitions

Exhibit II - Principal Place of Business; Location(s) of Records;
Federal Employer Identification Number

Exhibit III - Lock-Boxes; Collection Accounts; Collection Banks

Exhibit IV - [Intentionally omitted.]

Exhibit V - Credit and Collection Policies

Schedule A List of Documents to Be Delivered to Originator Prior
to the Purchase



-iii-




RECEIVABLES TRANSFER AGREEMENT


THIS RECEIVABLES TRANSFER AGREEMENT, dated as of December 19, 2000, is
by and among Bentley Mills, Inc., a Delaware Corporation ("Bentley"), Chatham
Marketing Co., a North Carolina corporation ("Chatham"), Guilford of Maine
Marketing Co., a Nevada corporation ("Guilford"), Intek Marketing Co., a Nevada

 

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